VESTIS GROUP COMPLETES SALE OF 16-UNIT APARTMENTS IN CENTRAL PHOENIX

Vestis Group completed the sale of two adjacent apartment complexes, totaling 16 multifamily units, located at 4401 N 21st Street and 4405 N 21st Street, in the Biltmore-area of Phoenix, for $1,025,000 or $64,063 per unit.

(Phoenix – July 31, 2017) – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of two adjacent apartment complexes, totaling 16 multifamily units, located at 4401 North 21st Street and 4405 North 21st Street, in the Biltmore-area of Phoenix, for a combined sales price of $1,025,000 or $64,063 per unit.

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell worked in conjunction with Jeff Seaman of CBRE, Inc., who negotiated the transaction on behalf of the buyer, MODE Apartments + Homes of Phoenix and the seller, The Savoca Family Trust of Phoenix, Arizona.

“21st Street & Turney was a no-brainer acquisition for us as we already own and manage several other apartment communities in the neighborhood,” says Les Litwin, Principal at MODE Apartments + Homes, “The apartments will be fully renovated with high-end finishes and modern amenities, which will help further improve this up-and-coming Biltmore-area Phoenix neighborhood.”

Vestis Group is a leading Multifamily Investment sales and Advisory Services firm with a proven track-record of providing value added brokerage services coupled with innovative and ongoing real estate investment strategies.

Our mission is to ensure that owners and investors receive the most efficient research, marketing, real estate consultation and transaction services available. We pride ourselves on our ability to deliver added value to our clients by building uncompromising and long-lasting relationships with our partners.